Paulson Wealth Management Inc. Has $6.56 Million Stock Position in Invesco QQQ (NASDAQ:QQQ)

Paulson Wealth Management Inc. decreased its stake in Invesco QQQ (NASDAQ:QQQ) by 5.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,686 shares of the exchange traded fund’s stock after selling 720 shares during the period. Invesco QQQ makes up 1.9% of Paulson Wealth Management Inc.’s portfolio, making the stock its 13th largest holding. Paulson Wealth Management Inc.’s holdings in Invesco QQQ were worth $6,557,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC lifted its position in Invesco QQQ by 40,957.3% in the fourth quarter. International Assets Investment Management LLC now owns 28,332,433 shares of the exchange traded fund’s stock worth $11,602,698,000 after purchasing an additional 28,263,426 shares during the period. Global Assets Advisory LLC bought a new position in Invesco QQQ in the first quarter worth $1,580,776,000. Steel Grove Capital Advisors LLC lifted its position in Invesco QQQ by 934.0% in the first quarter. Steel Grove Capital Advisors LLC now owns 3,434,759 shares of the exchange traded fund’s stock worth $1,525,067,000 after purchasing an additional 3,102,568 shares during the period. Granite Bay Wealth Management LLC lifted its position in Invesco QQQ by 6,215.5% in the second quarter. Granite Bay Wealth Management LLC now owns 908,924 shares of the exchange traded fund’s stock worth $409,513,000 after purchasing an additional 894,532 shares during the period. Finally, Harvard Management Co. Inc. bought a new position in Invesco QQQ in the first quarter worth $304,591,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

Invesco QQQ Stock Down 1.0 %

Shares of NASDAQ QQQ traded down $4.66 during midday trading on Monday, reaching $475.34. 27,240,232 shares of the company traded hands, compared to its average volume of 40,626,258. The stock’s 50-day simple moving average is $475.08 and its 200-day simple moving average is $453.77. Invesco QQQ has a 12 month low of $342.35 and a 12 month high of $503.52.

Invesco QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Monday, June 24th were issued a dividend of $0.7615 per share. The ex-dividend date of this dividend was Monday, June 24th. This is a boost from Invesco QQQ’s previous quarterly dividend of $0.57. This represents a $3.05 dividend on an annualized basis and a dividend yield of 0.64%.

Invesco QQQ Company Profile

PowerShares QQQ Trust, Series 1 is a unit investment trust that issues securities called Nasdaq-100 Index Tracking Stock. The Trust’s investment objective is to provide investment results that generally correspond to the price and yield performance of the Nasdaq-100 Index. The Trust provides investors with the opportunity to purchase units of beneficial interest in the Trust representing proportionate undivided interests in the portfolio of securities held by the Trust, which consists of substantially all of the securities, in substantially the same weighting, as the component securities of the Nasdaq-100 Index.